Last weeks sales activity is published below. Scroll down page for photos and details of weekly solds and under contract /pending Aspen properties in the past 4 weeks. For earlier dates, use the down arrow to search the blog archives by year and date. Or use SearchEstinAspen to search by topic, address, subdivision or complex name, date etc. If it’s about Aspen real estate, information should be here.
Released Wed. Jan 16, 2013. Click image for summary and full report pdf in Current Reports
The Estin Report: December 2012 Market Snapshot Aspen Snowmass Real Estate
released Tues. 01/08/13 v5.1
Click image to December 2012 Market Snapshot and Summary
Last Week’s Market Activity Aspen Snowmass real estate weekly sales and under contract activity appears below for all Aspen, Snowmass Village, Woody Creek and Old Snowmass properties over $250,000 excluding fractionals in the upper Roaring Fork Valley. As the MLS links below expire after 30 days, photos and written descriptions of select closed properties (those with excellent photography) are posted to preserve an archive of sold market activity.
Comments – Last week the Estin Report released its 4th Quarter and full year State of the Aspen Snowmass Real Estate Market report.
Here are some of the market highlights:
December 2012 was the best performing December in total dollar sales for Aspen and Snowmass Village combined since Dec. 2006; it was also the best single performing month in total dollar and unit sales for Aspen and Snowmass Village combined since Oct. 2007. Capital gains, gift and estate tax changes planned for 2013 likely fueled a number of these transactions before the end of the year and trumped the uncertainty caused by the fiscal cliff debate.
Key differences from a year ago
Total Aspen Snowmass 2012 Sales
– For the year 2012, there were 333 total unit sales, +7% over 2011 with 310 unit sales; 2012 total dollar sales totaled $973MM versus $967MM in 2011, zero percent change.
Single Family Homes
– Dec. 2012 Aspen Snowmass combined single family home sales surged to (15) sales up +114% over Dec. 2011 with (7) home sales.
– Aspen single family home unit sales in Dec. 2012 totaled (12), up +140% over the (5) homes sold in Dec. 2011. For the year 2012, Aspen home unit sales were (102) up +4% over the (98) Aspen homes sold in 2011.
– Aspen condo unit sales in Dec. 2012 at (11) was up +11% over the (9) sold in Dec. 2011; for the year 2012, Aspen condo unit sales of(104) condos sold was up 11% over the (94) units sold in 2011.
– Total Aspen Snowmass vacant land sales for 2012 spiked +149% in dollar sales to $84MM from $34M in 2011.
– Total Aspen Snowmass vacant land unit sales rose +41% in 2012 with (31) sales versus (22) in 2011.
– 2012 vacant lot sales at $84M and (31) units sold represents a +224% and +48% gain respectively from 2008 sales when sales totaled $26M and (21) lot sales.
– For perspective: the 2012 vacant land sales in Aspen and Snowmass Village combined at $84M and (31) units sold represents 45% of 2007 peak year lot sales when there were $188M total ldollars spent for (50) lot sales. (See soon to be released: The Estin Report: Q4 2012 and 2012 Year: State of the Aspen Snowmass Real Estate Market).
Under Contract / Pending (9) MLS #: 128108, 124449, 123598, 126594, 128381, 125362, 128274, 127469, 1280088. This link is valid for 30 days until 02/27/2013. Photos and descriptions of under contracts are not posted unless special circumstances or significance dictate.
Closed (3) MLS #: 126024, 128225, 127895 .This link is valid for 30 days until 02/27/2013.
Select Aspen Snowmass Solds Last Week
MLS #126024 – Aspen, West End, Aspen West End Condo, 790 W. Hallam, Unit 9, Aspen, CO: Sold Price: $365,000/$663 sq ft unfurnished. More details below photos.
MLS #126024 – Aspen, West End, Aspen West End Condo, 790 W. Hallam, Unit 9, Aspen, CO: Sold Price: $365,000/$663 sq ft unfurnished; Asking Price: $395,000. (Original Price: $625,000 and 897 days on the market since 08/10/2009.) This is a 1971 built, 550 sq ft studio with 1 bath condo. Broker comments are: “Great corner, second floor studio unit with excellent location in the West End. Walk to music tent. Nice private and quiet location on north side of building with views to Red Mountain. Enjoy private deck. Open floor plan with lots of light and many large windows. Well maintained and ready to go. Nice storage/closet space in condo and separate ski storage in building. Off street parking. Wood fireplace.” 2011 Taxes: $1,239; HOA Dues: $350 Mo. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/10/2012; Sold Date: 01/24/2013. (Photos and broker comments courtesy of Leverich & Carr.)
MLS #128225 – Aspen, West End, Gant condo, 610 West End Street, D-102, Aspen, CO: Sold Price: $987,500/$1,012 sq ft furnished. More details below photos.
MLS #128225 – Aspen, West End, Gant condo, 610 West End Street, D-102, Aspen, CO: Sold Price: $987,500/$1,012 sq ft furnished; Asking Price: $1,150,000. (Original Price: $1,475,000 and 511 days on the market since 12/27/2009.) This is a 1972 built/2008 remodeled, 2 bedroom/2 bath, 975 sq ft condo. Broker comments are, ” Updated Gant unit with warm lodge decor. Cozy unit with upscale finishes including: Teak wood floors, granite counters,stainless appliances, river rock wood burning fireplace and much more. Best amenities of any condo complex in Aspen including: 2 heated pools, jacuzzis, 5 tennis courts, work out room, shuttle service, concierge and conference facility. Owner wants winter sale.” 2011 Taxes: $2,948; HOA Dues: $21,342 Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/11/2013; Sold Date: 01/25/2013. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s.)
MLS #127895 – Aspen, Bank Owned (REO) Sale, West Aspen, North 40 PUD single family home, 34 Tumbledown Lane, Aspen, CO: Sold Price: $656,500/$213 sq ft unfurnished. This is a deed retricted, RO* , Resident Occupied, property whereby owner must qualify as Pitkin County resident and employee. More details below photos.
MLS #127895 – Aspen, Bank Owned Sale, West Aspen, North 40 PUD single family home, 34 Tumbledown Lane, Aspen, CO: Sold Price: $656,500/$213 sq ft unfurnished. This is a deed retricted, RO*, Resident Occupied property whereby owner must qualify as Pitkin County resident and employee: Asking Price: $656,500. (Original Price: $1,150,615 and 52 days on the market since 12/04/2012.) This is a 2003 built, 3 bedroom/3 bath, 1,907 sq ft single family home on 0.13 acres. Broker comments are, “In order to purchase this deed restricted RO home, the Buyer must meet the Aspen/Pitkin County Housing Authority work requirements and be pre-qualified thru their office. The buyer needs to have worked in Pitkin County for the last year at least 1500 hours per calendar year and earn at least 75% of their income within Pitkin County. Buyers to call Housing office to verify 920-5455. Buyer to pay 1% of sales price to Aspen/Pitkin County Housing Authority at closing. The downstairs apartment is illegal as there is a stove and it needs to be removed (per APCHA).” 2011 Taxes: $2,358; HOA Dues: $245 Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/10/2012; Sold Date: 01/17/2013. (Photos and broker comments courtesy of McKinley Sales.)
*The home is categorized by the Aspen/Pitkin County Housing Authority (APCHA) as a resident-occupied (RO) unit, which are the most expensive kind of worker housing. The property is located in the North 40 subdivision.APCHA guidelines require homeowners in the program to work in Pitkin County for a minimum of 1,500 hours a year, not own other property in the valley and maintain that the unit is his or her sole residence. They don’t allow homeowners to rent out units for more than two years.
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Disclaimer: The statements made in The Estin Report and on Tim Estin’s blog represent the opinions of the author and should not be relied upon exclusively to make real estate decisions. A potential buyer and/or seller is advised to make an independent investigation of the market and of each property before deciding to purchase or to sell. To the extent the statements made herein report facts or conclusions taken from other sources, the information is believed by the author to be reliable, however, the author makes no guarantee concerning the accuracy of the facts and conclusions reported herein. Information concerning particular real estate opportunities can be requested from Tim Estin at 970.920.7387 or Email him. The Estin Report is copyrighted 2013 and all rights reserved. Use is permitted subject to the following attribution: “The Estin Report: State of the Aspen Real Estate Market, By Tim Estin, mba, gri, broker.”
Aspen Snowmass Real Estate Weekly Market Update Report Closed and Under Contract